The Impaired Property Exclusion of Liability Policies (from FC&S Legal)

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Information about The Impaired Property Exclusion of Liability Policies (from FC&S Legal)
News & Politics

Published on February 25, 2014

Author: NationalUnderwriter

Source: slideshare.net

Description

The reality of the matter is that the “impaired property” exclusion has had a troublesome path since its birth in 1966. The reason it is confusing to many people is that its purpose is generally misunderstood. It is supposed to apply when a claim does not involve physical injury to tangible property. However, whenever a claim involves property damage stemming from a named insured’s product, the “impaired property” exclusion also is commonly cited by many insurers. As a result, there is no majority or minority standing concerning this exclusion, and it has to be taken into consideration just like other exclusions.

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